Regulator blocks US mortgage relief plan.

Regulator blocks US mortgage relief plan.

 Federal Housing Finance Agency acting director Edward Demarco issued a response to numerous Congressional inquiries as to whether FHDA would direct Fannie and Freddie to modify mortgages under the government's Home Affordable Modification Program Principal Reduction Alternative, or HAMP PRA. "Given our multiple responsibilities to conserve the assets of Fannie Mae and Freddie Mac, maximize assistance to homeowners to avoid foreclosures, and minimize the expense of such assistance to taxpayers, FHFH concluded that HAMP PRA id not clearly improve foreclosure avoidance while reducing costs to taxpayers relative to the approaches in play today," Demarco said.